Business Development Bank of Canada

Founded in 1944, the Business Development Bank of Canada is a government-owned financial institution dedicated to supporting small and medium-sized enterprises (SMEs) across Canada. It offers a range of services including financing, consulting, subordinate financing, and venture capital.

Trevor Allibon

Managing Director, Subordinate Financing

Timothy April

Managing Director

Kyle Feucht

Senior Director, Growth and Transition Capital

Jasmin Ganie-Hobbs

Director of Tech Financing

Lily Lam

Director, Funds

Patrick Latour

Senior Vice President

Vern Malcolm

Managing Director, Growth and Transition Capital

Benoît Mignacco

Vice President, Digital Lending

Mona Minhas

Partner

Matt Price

Managing Director, Growth and Transition Capital

Sal Rabbani

Managing Partner, Advisory Services

Chantal Remy

Senior Vice President, Quebec and Atlantic and Advisory Services

Kunle Tauhid

Vice President, Financing and Consulting

David Wan

Director, Growth and Transition Capital

Ronald Warburton

Managing Partner

Past deals in Quebec

MultiCloud Decentralized Applications

Debt Financing in 2024
Headquartered in Montreal, Canada, MultiCloud Decentralized Applications Inc. is revolutionizing the cloud storage industry with secure, scalable, and cost-effective solutions powered by decentralized infrastructure. Our flagship product, Cloud Libertas, is a cutting-edge storage platform that offers up to 50% cost savings compared to AWS S3, eliminates data transfer fees, and ensures end-to-end encryption, unlimited API calls, and seamless multi-cloud compatibility. MultiCloud’s expertise spans major cloud platforms like AWS, Azure, and Google Cloud Platform, allowing us to design architectures that prevent vendor lock-in while optimizing performance and scalability. Beyond storage, we also develop decentralized applications (DApps) to empower businesses with enhanced privacy, security, and resilience. We are committed to advancing Web 3.0 technologies and providing innovative solutions to meet the growing demands of the digital economy. Seeking Strategic Investors MultiCloud Decentralized Applications is actively seeking angel and institutional investors to accelerate our growth and expand our transformative offerings. Join us in building the future of decentralized cloud storage and infrastructure. For investment opportunities or to discuss strategic partnerships, please reach out via LinkedIn or through the contact form on our official website.

Foodtastic

Debt Financing in 2022
Foodtastic is a Quebec-based franchisor that operates a diverse portfolio of restaurant concepts, including La Belle et La Boeuf, Carlos & Pepe's, Souvlaki Bar, Nickels, and Bacaro. With over 900 restaurants in its system generating more than $830 million in sales, Foodtastic is a prominent player in the restaurant industry. The company provides a variety of culinary styles and beverages, creating entertaining dining experiences for its customers. Additionally, Foodtastic is expanding its reach internationally, boasting over 100 restaurants outside of Canada.

Vosker

Debt Financing in 2021
Vosker provides remote area monitoring technology using solar power and artificial intelligence for cutting-edge surveillance solutions. It offers mobile security cameras that operate on 4G/LTE networks and are powered by solar energy, providing surveillance capabilities. These cameras are primarily used in various industries. Vosker was founded in 2018, and headquartered in Victoriaville, Quebec.

Booxi

Seed Round in 2021
Booxi is a Montreal-based retail technology company that specializes in appointment booking software tailored for retailers. Its platform enhances the customer experience by simplifying appointment scheduling and management. Booxi's software includes features such as Customer Relationship Management (CRM), online payment processing, and staff calendar management, allowing businesses to efficiently manage their operations related to events and appointments. By streamlining these processes, Booxi enables retailers to focus on improving service delivery and customer satisfaction.

Paper

Series C in 2021
Paper is an educational technology company that provides personalized tutoring support for students. Its platform offers live help, essay feedback, real-time reports, and intervention tools to facilitate learning and assist teachers. Founded in 2014, Paper is headquartered in Montreal, Canada.

Deeplite

Seed Round in 2021
Deeplite is a Montreal-based company that specializes in AI-driven optimization software for deep neural networks (DNNs) designed for deployment on both cloud servers and edge devices. The company's flagship product, Neutrino, utilizes a unique multi-objective design space exploration approach to automatically optimize DNN models, making them smaller, faster, and more energy-efficient. This technology addresses the challenges associated with deploying deep learning models on limited hardware, ensuring that they can operate effectively in real-time applications without compromising performance or battery life. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, ultimately enabling the integration of advanced AI capabilities into everyday technology.

Budge Studios

Venture Round in 2021
Budge Studios Inc. is a Montreal-based company that specializes in developing and publishing children's applications for smartphones and tablets. Founded in 2010, the company offers a diverse portfolio of apps that includes original and branded content, featuring popular characters such as Barbie, Thomas & Friends, Strawberry Shortcake, and Hello Kitty. Budge Studios focuses on creating engaging and educational games that adhere to safety and age-appropriateness standards, allowing children to explore their creativity while enjoying interactive entertainment. Additionally, the company provides the Budge Playgroup program, which enables parents or guardians to participate in the app creation process, fostering a collaborative environment for innovation.

Aifred Health

Seed Round in 2020
Aifred Health Inc. is a Montreal-based company that specializes in developing a deep-learning clinical decision support tool aimed at enhancing personalized medicine in psychiatry. Founded in 2017, Aifred Health addresses the challenges associated with the traditional trial-and-error approach to treatment selection for mental health, particularly in depression, which is a leading cause of medical impairment worldwide. The company's application software provides features such as treatment prediction, interpretability, and patient data tracking, enabling physicians to make informed decisions tailored to individual patients. By processing de-identified data, Aifred Health's AI model facilitates personalized therapeutic choices, thereby improving the likelihood of effective treatment outcomes for patients who often do not respond to initial interventions.

Local Logic

Series A in 2020
Local Logic is a location intelligence platform based in Montreal, Quebec, that focuses on digitizing the built environment to make location data understandable and actionable for various stakeholders, including consumers, investors, developers, and governments. The platform harnesses artificial intelligence, geospatial data, and user-generated information to offer insights into lifestyle and location characteristics. With proprietary insights derived from over 75 billion data points, Local Logic provides predictive and precise analytics that inform decision-making in the real estate sector, which impacts the vast real estate market in the US and Canada. The company's services cater to commercial real estate, urban planning, and other location-based industries, assisting major developers and investors in shaping sustainable and equitable urban environments.

Busbud

Series C in 2020
Busbud, Inc. offers an online platform for booking intercity bus travel, enabling users to search, compare, and purchase tickets across various destinations in Canada and internationally. Founded in 2011 and headquartered in Montreal, Canada, the company provides extensive travel information, including schedules, prices, reviews, and amenities, through its website and mobile application. Busbud aggregates bus schedules from over 10,463 cities in 89 countries, allowing travelers to plan their trips in multiple languages and currencies. The platform aims to simplify the travel experience by helping users find the best prices and options that suit their needs, while also providing customer support to enhance the booking experience.

Effenco

Series B in 2020
Founded in 2006, Effenco is an autotech company specializing in heavy-duty vehicle electrification. Headquartered in Montreal, Canada, with operations in the U.S. and Europe, it develops Active-Stop-Start electric hybrid technology for vocational trucks. This system improves energy efficiency by 30% and reduces greenhouse gas emissions when vehicles are stationary.

Flyscan

Venture Round in 2020
Flyscan Systems Inc. is a Québec-based company established in 2015, specializing in the development of airborne technology for detecting oil leaks in pipelines. The company's innovative platform automates the identification of small oil leaks and offers various visual inspection functions tailored for the energy sector. By utilizing industrial optics and photonics systems mounted on airborne vehicles, Flyscan provides remote detection services that enable clients to monitor underground pipelines effectively. This technology helps clients promptly address any leakages, thereby mitigating potential environmental damages.

Deeplite

Seed Round in 2020
Deeplite is a Montreal-based company that specializes in AI-driven optimization software for deep neural networks (DNNs) designed for deployment on both cloud servers and edge devices. The company's flagship product, Neutrino, utilizes a unique multi-objective design space exploration approach to automatically optimize DNN models, making them smaller, faster, and more energy-efficient. This technology addresses the challenges associated with deploying deep learning models on limited hardware, ensuring that they can operate effectively in real-time applications without compromising performance or battery life. Deeplite's solutions cater to various sectors, including automotive, smartphones, smart cameras, and IoT devices, ultimately enabling the integration of advanced AI capabilities into everyday technology.

Paper

Venture Round in 2020
Paper is an educational technology company that provides personalized tutoring support for students. Its platform offers live help, essay feedback, real-time reports, and intervention tools to facilitate learning and assist teachers. Founded in 2014, Paper is headquartered in Montreal, Canada.

Zetane Systems

Debt Financing in 2020
Zetane Systems is a Montreal-based software company specializing in commercial applications of artificial intelligence (AI). It offers a proprietary AI development engine that provides a visual, intuitive, and collaborative environment for businesses to build AI solutions. The company aims to make AI development more accessible, explain complex neural networks, increase stakeholder buy-in, reduce time to market, and mitigate risks prior to deployment. Additionally, Zetane Systems offers consulting services to facilitate the adoption of AI in diverse industries.

WeCook - Repas WeCook

Venture Round in 2020
Founded in 2013, WeCook Meals (formerly Nutrition Fit Plus) is a leader in home meal delivery, offering a wide range of tasty, balanced and personalized healthy meals made with fresh produce and meat, and healthy snacks. Subscribers can order from a diversified weekly menu. The Dorval-based company has over 450 employees serving Québec and Ontario.

SuccessFinder

Venture Round in 2019
SuccessFinder is a technology company specializing in human resources. It offers a cloud-based talent assessment platform that leverages predictive analytics to make informed decisions across the employee lifecycle, from recruitment to development and succession planning.

Sofdesk

Series B in 2019
Sofdesk Inc. is a software company based in Montreal, Canada, specializing in sales acceleration solutions for the solar and roofing industries. Founded in 2013, Sofdesk develops intuitive web applications designed to help small to medium-sized companies enhance their infrastructure and streamline operations. Its primary products include SolarGraf, which assists solar installers in generating leads and proposals, and RoofGraf, which aids roofing companies in sourcing new business opportunities. By offering a comprehensive suite of tools for project management, automation, and advanced quoting, Sofdesk enables its clients to reduce operational costs and improve their overall efficiency in a competitive market.

Element AI

Series B in 2019
Element AI is an artificial intelligence company that develops and delivers AI solutions for organizations to identify opportunities to deploy AI and machine learning. It operates an AI as a Service platform that enables businesses to launch and scale AI initiatives in partnership with large corporations. The company maintains an in-house research and development laboratory to advance AI technologies and their deployment in computing infrastructure. Element AI serves industries including insurance, banking and capital markets, manufacturing, logistics, retail, and consumer packaged goods. Founded in 2016 and headquartered in Montreal with an additional office in Toronto, it combines software products, services, and tools that help clients operationalize AI, augment decision-making, and improve business performance. Element AI also maintains collaborations with academia and engages in policy discussions related to technology's societal impact, while acting as an integrator to help organizations adopt and implement AI solutions.

Pit Caribou

Venture Round in 2019
Pit Caribou is a microbrewery founded in 2007, located in L'Anse à Beaufils on the Gaspé Peninsula in Quebec. The brewery focuses on crafting quality beers by utilizing local resources from the Gaspé region. It offers a diverse selection of wheat and red beers in various flavors, catering to a wide range of customer preferences. In addition to its production facilities, Pit Caribou operates pubs in Percé and Montreal, where patrons can enjoy their offerings. The company also features a shop for customers to purchase bottled products and a patio that allows visitors to savor their beers by the sea. Currently, Pit Caribou employs 37 people.

Strato Automation

Venture Round in 2019
Strato Automation, established in 2010 and headquartered in Montreal, Canada, specializes in developing and manufacturing building automation systems. Their product portfolio includes a range of controllers for heating, ventilation, and air conditioning (HVAC) systems, as well as sensors and software solutions for system management. The company's mission is to create simple, open, and smart building control products, benefiting both building owners and occupants. They cater to light commercial systems and enterprise-level building automation, serving diverse sectors such as retail, manufacturing, education, medical, and hospitality.

Paper

Venture Round in 2019
Paper is an educational technology company that provides personalized tutoring support for students. Its platform offers live help, essay feedback, real-time reports, and intervention tools to facilitate learning and assist teachers. Founded in 2014, Paper is headquartered in Montreal, Canada.

Groupe JLD Laguë

Private Equity Round in 2019
Groupe JLD Laguë is a distributor of farm machinery and heavy equipment based in Quebec and Ontario. The company specializes in providing a wide range of equipment for agricultural, landscaping, snow removal, and commercial maintenance activities. Its product offerings include tractors, mowers, forage harvesters, combine harvesters, balers, snowblowers, mini-excavators, skid steer loaders, and utility vehicles. In addition to equipment distribution, Groupe JLD Laguë also offers financing services, assisting clients in meeting their heavy truck and related equipment needs. The company distinguishes itself from competitors by focusing on innovative technological advancements to enhance its product lineup and services.

H2O Innovation

Post in 2018
H2O Innovation Inc. is a Canadian company specializing in integrated water treatment solutions utilizing membrane filtration technology. It operates through three primary segments: Water Technologies and Services, Specialty Products, and Operation and Maintenance Services. The Water Technologies and Services segment focuses on providing systems for drinking and industrial process water, as well as water reclamation, desalination, and wastewater treatment. The company also manufactures and supplies a range of membrane filtration systems, spare parts, and specialty reverse osmosis chemicals. Its Specialty Products segment includes a variety of consumables, such as membrane cleaners and coagulants, alongside maple syrup production equipment. The Operation and Maintenance Services segment offers public works services, construction for water infrastructure, and containerized treatment systems. Additionally, H2O Innovation provides technical support and software solutions for monitoring water treatment processes. Founded in 2000 and headquartered in Quebec City, the company has established itself as a leader in the water treatment industry, continuously expanding its market presence.

Angiochem

Series C in 2018
Angiochem Inc. is a clinical-stage biotechnology company based in Montreal, Canada, specializing in the discovery and development of peptide drug conjugates aimed at treating neurological diseases. The company focuses on creating innovative therapies that can effectively cross the blood-brain barrier, addressing significant medical needs associated with central nervous system disorders. Angiochem's portfolio includes ANG1005, a taxane derivative designed to enter cancer cells via the low density lipoprotein receptor-related protein 1 (LRP-1), and ANG4043, an anticancer therapy targeting breast cancer metastases in the brain. Additionally, the company develops peptide antibody conjugates, antibody-drug conjugates for targeted tumor treatment, and neurotensin derivatives for managing post-surgical and cancer-related pain. Angiochem's proprietary EPiC platform enables the design of Engineered Peptide Compounds that leverage receptor-based mechanisms to facilitate drug delivery across the blood-brain barrier. The company was founded in 2003 and remains committed to advancing therapies for a range of CNS diseases, including primary brain cancer, lysosomal storage diseases, and others.

Keatext

Seed Round in 2018
Keatext is a Montreal-based technology company that provides an AI-powered text analytics platform to synthesize customer feedback from multiple channels including surveys, online reviews, chat logs, social media, and support tickets. Using natural language processing, the platform consolidates data into a single view to surface actionable insights, helping businesses understand what customers care about, identify improvement opportunities, and make data-driven decisions to enhance customer experience and related outcomes.

SpherePlay

Venture Round in 2017
SpherePlay, founded in 2014 and based in Montréal, Quebec, specializes in creating, delivering, and monetizing virtual reality (VR) experiences across various platforms. The company offers a suite of VR media players designed to help broadcasters, publishers, and commercial content distributors integrate VR experiences into their existing media distribution workflows through their own apps and websites. This solution enables the production, delivery, and sharing of immersive VR/360° content with high realism and user-friendliness.

Transit

Series A in 2017
Transit is a mobile app intended to help its users navigate their cities. Transit simplifies local travel in 125 cities worldwide. Upon launch, the bright, intuitive interface shows all nearby transportation options and departures. Users can plan trips, set reminders, and get notifications about disruptions. Plus, Transit also integrates other sustainable transport modes -- bike sharing, car sharing and Uber -- so users can determine the best way to get from A to B. With millions of active users in the US and Canada, Transit has emerged as the leading urban transit app in North America. The company is based in Montreal, Quebec.

Element AI

Series A in 2017
Element AI is an artificial intelligence company that develops and delivers AI solutions for organizations to identify opportunities to deploy AI and machine learning. It operates an AI as a Service platform that enables businesses to launch and scale AI initiatives in partnership with large corporations. The company maintains an in-house research and development laboratory to advance AI technologies and their deployment in computing infrastructure. Element AI serves industries including insurance, banking and capital markets, manufacturing, logistics, retail, and consumer packaged goods. Founded in 2016 and headquartered in Montreal with an additional office in Toronto, it combines software products, services, and tools that help clients operationalize AI, augment decision-making, and improve business performance. Element AI also maintains collaborations with academia and engages in policy discussions related to technology's societal impact, while acting as an integrator to help organizations adopt and implement AI solutions.

Soundbite Medical Solutions

Seed Round in 2016
Soundbite Medical Solutions Inc. is a cardiovascular medical technology company based in Montreal, Canada, specializing in the development and commercialization of innovative medical devices. Founded in 2013, the company has engineered a proprietary wire-based device and generator console that utilizes safe shockwave energy to treat chronic total occlusions (CTOs) within the cardiovascular system. This technology is aimed at addressing significant medical needs in patients suffering from peripheral artery disease and coronary artery disease, conditions that affect millions of individuals in the United States. The company's focus is on enhancing treatment options and improving patient outcomes by effectively preparing vascular pathways for management and intervention.

Quartz

Private Equity Round in 2015
Quartz Co. is a Canadian company based in Montreal that specializes in designing and manufacturing insulated winter coats. Founded in 1997 and formerly known as Quartz Nature Inc., the company rebranded in 2015 to reflect its commitment to creating modern outerwear that combines timeless design with high performance. Quartz Co. offers a range of products, including winter coats for both men and women, as well as accessories such as scarves, woolen hats, and bags. The company caters to a diverse customer base across several countries, including France, Germany, Japan, Russia, Hong Kong, Korea, Norway, the United States, Canada, and Switzerland. Quartz Co. is dedicated to environmentally friendly practices and aims to provide durable and stylish outerwear suitable for various weather conditions.

Budge Studios

Private Equity Round in 2015
Budge Studios Inc. is a Montreal-based company that specializes in developing and publishing children's applications for smartphones and tablets. Founded in 2010, the company offers a diverse portfolio of apps that includes original and branded content, featuring popular characters such as Barbie, Thomas & Friends, Strawberry Shortcake, and Hello Kitty. Budge Studios focuses on creating engaging and educational games that adhere to safety and age-appropriateness standards, allowing children to explore their creativity while enjoying interactive entertainment. Additionally, the company provides the Budge Playgroup program, which enables parents or guardians to participate in the app creation process, fostering a collaborative environment for innovation.

Provender

Seed Round in 2014
Provender is an online platform based in Montréal, Quebec, that facilitates direct-trade connections between farmers and buyers. Established in April 2013, the company enables farmers to quantify and organize their yields, making this information readily accessible to potential buyers. By leveraging technology, Provender creates a marketplace that delivers fresh, healthy food directly from local farms to customers’ doorsteps. This innovative platform not only streamlines the supply chain from the farm to professional kitchens but also offers tools for chefs and grocers to discover seasonal ingredients and plan their culinary needs effectively.

FounderFuel

Convertible Note in 2012
FounderFuel is a Montreal-based mentor-driven accelerator for technology startups. It operates a four-month program that connects young companies with a network of veteran entrepreneurs, operators, and executives to refine visions, expand networks, and accelerate progress. Founded in 2011 by Real Ventures, the program emphasizes technology ventures, including those leveraging artificial intelligence and machine learning, and provides participants with access to investors and strategic mentors to support early growth.

Audiokinetic

Venture Round in 2007
Audiokinetic Inc. is a Montreal-based company founded in 2000 that specializes in cross-platform audio solutions for the interactive media and gaming industries. The company is best known for its flagship product, Wwise, an integrated audio authoring middleware that enables sound designers and audio programmers to create sophisticated and immersive audio experiences. Wwise features an optimized sound engine, an event-based audio authoring tool, and a comprehensive audio pipeline solution. In addition to Wwise, Audiokinetic offers a range of innovative products, including SoundSeed, a family of interactive sound generators, and Wwise Motion, which allows real-time simulation and editing within the Wwise application. The company also provides consulting services, including custom tool development, project support, and sound engine integration. With a commitment to advancing audio production technology, Audiokinetic has established itself as a leader in the industry, helping developers create engaging soundscapes for video games and interactive media.

Resonant Medical

Series B in 2005
Resonant Medical is a Montreal-based company focused on developing, manufacturing, and commercializing 3D ultrasound image-guided adaptive radiotherapy products for cancer treatment. Founded in 2000, the company offers innovative solutions such as the Clarity Breast System for precise guidance in breast treatments, the Clarity Prostate System for non-invasive prostate treatments, and the Multi-Anatomy System for soft tissue anatomy guidance in various applications. These products are designed to enhance radiation therapy planning, verification, and delivery, providing a non-invasive and radiation-free approach that meets the technical and clinical needs of healthcare providers. Resonant Medical serves a range of professionals within cancer treatment centers, including physicians, physicists, therapists, and administrators. In 2010, the company was acquired by Elekta, further solidifying its commitment to advancing patient care in radiation therapy.

Topigen Pharmaceuticals

Series B in 2005
Topigen Pharmaceuticals is a biotechnology company that is focused on the scientific research and development of therapeutic drugs. It develops treatments for respiratory disorders, including asthma and chronic obstructive pulmonary disease. Topigen Pharmaceuticals offers TPI ASM8, a drug that is developed for the management of moderate to severe asthma; and TPI 1100, a drug that is developed for the chronic obstructive pulmonary disease. Topigen Pharmaceuticals was acquired by Pharmaxis in January 2010. Topigen Pharmaceuticals was founded in 2000 and is based in Montreal, Quebec.

Topigen Pharmaceuticals

Venture Round in 2004
Topigen Pharmaceuticals is a biotechnology company that is focused on the scientific research and development of therapeutic drugs. It develops treatments for respiratory disorders, including asthma and chronic obstructive pulmonary disease. Topigen Pharmaceuticals offers TPI ASM8, a drug that is developed for the management of moderate to severe asthma; and TPI 1100, a drug that is developed for the chronic obstructive pulmonary disease. Topigen Pharmaceuticals was acquired by Pharmaxis in January 2010. Topigen Pharmaceuticals was founded in 2000 and is based in Montreal, Quebec.

Chronogen

Series B in 2003
Chronogen Inc. a biotechnology company headquartered in Montreal, Canada.

Ltrim Technologies

Series B in 2003
LTRIM Technologies is a development-stage fabless semiconductor company, engaged in the design and development of high-performance analog integrated circuit products. It was founded in October 1998 by Physics Engineer Yves Gagnon, Professor Yvon Savaria PhD, and Professor Michel Meunier PhD. The company was conceived to commercialize the results of a three-year R & D project carried out by the founders at the École Polytechnique of Montréal (one of Canada's leading post-secondary engineering institutions) between January 1998 and May 2000.

ConjuChem

Series B in 1999
ConjuChem, LLC is a biotechnology company based in Los Angeles, California, specializing in the discovery and development of novel therapeutics, with a primary focus on diabetes. Originally established as ConjuChem Biotechnologies Inc. in Montreal, Canada, the company utilizes its innovative Drug Affinity Complex (DAC) and Preformed Conjugate-Drug Affinity Complex (PC-DAC) technology platforms to enhance the efficacy and duration of therapeutic peptides. These platforms enable the creation of new drugs that maintain similar therapeutic activities while offering longer-lasting effects and improved safety profiles. ConjuChem's product pipeline includes CJC-1134-PC, a modified Exendin-4 analogue aimed at treating type 2 diabetes, as well as PC-DAC insulin and a DAC-based product for controlling HIV-1 infection. Since its incorporation in 2011, ConjuChem has been actively engaged in in-house research programs and is open to partnerships with other biopharmaceutical firms for collaborative research and licensing opportunities.
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